5 days ago
Tata Steel Invests Rs 1,340 Crore in Overseas Subsidiary
Tata Steel put Rs 1,340 crore into one of its overseas companies.
That company is called T Steel Holdings, or TSHP.
Tata Steel bought more than 162 crore shares in it.
TSHP will still be fully owned by Tata Steel.
This investment is part of a larger plan announced in March.
Under that plan, Tata Steel can invest up to $2 billion in TSHP.
Tata Steel also reported stronger profits and sales for the latest quarter.
Its shares finished Thursday at Rs 186.80.
Tata Steel acquired more than 162 crore shares in wholly owned subsidiary T Steel Holdings for Rs 1,340.16 crore, or $140 million.
The investment was made on Thursday under a broader funding plan announced by Tata Steel in March.
Tata Steel’s board had approved investing about Rs 18,488.10 crore, or $2 billion, in T Steel Holdings through one or more tranches.
Tata Steel reported a Q1 FY27 consolidated net profit of Rs 2,318 crore, up 11.5% year on year.
The company’s Q1 FY27 revenue rose 14% to Rs 60,749 crore, while EBITDA increased nearly 25% to Rs 9,264 crore.
- Who
- Tata Steel and its wholly owned subsidiary, T Steel Holdings (TSHP).
- What
- Tata Steel acquired more than 162 crore TSHP shares for Rs 1,340.16 crore, or $140 million.
- Where
- The articles identify T Steel Holdings as an overseas subsidiary but do not specify its location.
- When
- The acquisition took place on Thursday; the broader investment plan was approved in March.
- Why
- The investment is part of Tata Steel’s broader plan to fund TSHP through equity-share subscriptions.
Key facts
- Investment amount
- Rs 1,340.16 crore, or $140 million
- Shares acquired
- More than 162 crore equity shares
- Broader approved investment
- About Rs 18,488.10 crore, or $2 billion
- Overall investment limit
- The subsidiary’s overall investment limit was stated as $26.21 billion
- Q1 FY27 net profit
- Rs 2,318 crore, up 11.5% year on year
- Q1 FY27 revenue
- Rs 60,749 crore, up 14% year on year
- Thursday closing share price
- Rs 186.80
Quotes
Tata Steel
The steelmaking company issuing the exchange filing
“The funding will be provided through the subscription to equity shares of TSHP in one or more tranches, taking the overall investment limit in the subsidiary to $26.21 billion”
financialexpress.com
Sources
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